Can RCM be adjusted with ITC

no rcm can not pay with itc amount.

it is liability should be paid and after paying it will become yout itc.

no, you cant use for payment of RCM

NO

RCM can't be adjusted with input. However refund provisions are there for your case.

Dont worry you can claim refund under this situtaion Refund Process under GSTREFUND PROCESS UNDER GST Following are the procedures for processing of refund claimed-: Application form for claiming refund can be filed through the GSTN portal. An acknowledgement number would be shared with applicant via sms or email,

once the application is filed electronically. Adjustment would be made to return and cash ledger and reduce the “carry-forward input tax credit” automatically.

Refund application and documents submitted shall be scrutinized within a period of 30 days of filing the refund application. Concept of “unjust enrichment” would be examined for reach refund application.

If it does not qualify, then the refund would be transferred to CWF(consumer welfare fund).

If refund claimed exceeds the predetermined amount of refund then it will go through pre-audit process for sanctioning the refund. Refund will be credited electronically to the account of applicant via ECS, RTGS or NEFT. Application for refund can be made at end of each quarter.

No refund shall be provided for an amount of less than Rs 1000.

Originally posted by : Deepak Kr. Sharma
	NO RCM can't be adjusted with input. However refund provisions are there for your case. Dont worry you can claim refund under this situtaion Refund Process under GSTREFUND PROCESS UNDER GST Following are the procedures for processing of refund claimed-: Application form for claiming refund can be filed through the GSTN portal. An acknowledgement number would be shared with applicant via sms or email, once the application is filed electronically. Adjustment would be made to return and cash ledger and reduce the “carry-forward input tax credit” automatically. Refund application and documents submitted shall be scrutinized within a period of 30 days of filing the refund application. Concept of “unjust enrichment” would be examined for reach refund application. If it does not qualify, then the refund would be transferred to CWF(consumer welfare fund). If refund claimed exceeds the predetermined amount of refund then it will go through pre-audit process for sanctioning the refund. Refund will be credited electronically to the account of applicant via ECS, RTGS or NEFT. Application for refund can be made at end of each quarter. No refund shall be provided for an amount of less than Rs 1000.

Dear Deepak.,

Your clarification is EXACTLY CORRECT....

But, what is the sad moment...?

It's not applicable to Textile Industry....Only adjust his ITC to his input liabilities...

No,  At first you have to deposit RCM to govt than you can avail ITC of that